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Nama Chemicals’ losses deepen 55% in Q3

Nama Chemicals’ losses deepen 55% in Q3
Third-quarter revenue amounted to SAR 99.95 million.
NAMA CHEMICALS
2210
-1.96% 35.00 -0.70

Riyadh – Mubasher: Nama Chemicals Company’s net losses widened by 54.91% on an annual basis during the period from July to September in 2020 to reach SAR 9.9 million.

The higher losses were attributed to a drop in average selling prices of end products, coupled with a decline in sales volume and income from investment, according to a bourse disclosure on Thursday.

This came despite the decrease in financing costs.

Third-quarter revenue amounted to SAR 99.95 million, a drop of 16.3% when compared to SAR 119.5 million in the year-ago period.

During the January-September period, the losses surged by 113.3%, standing at SAR 20.6 million.